In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

Many people believe that globalization and its key components — economic growth, technological change and free trade — have made matters worse for humanity and the environment. As Goklany powerfully illustrates, that is a complete myth and we ought to consider how much worse the world would be like without these components.

Goklany confronts foes of globalization and demonstrates that economic growth, technological change and free trade helped power a “cycle of progress” that in the last two centuries enabled unprecedented improvements in every objective measurement of human well-being.

Poverty, hunger, malnutrition, child labor, illiteracy and unsafe water ceased to be global norms; infant mortality has never been lower; and we live longer and healthier lives. Further, Goklany’s research demonstrates that global agricultural productivity is up, food prices are down, hunger and malnutrition have dropped worldwide, public health has improved, mortality rates are down, and life expectancies are up.

“The Improving State of the World” is an important contribution to the environment versus development debate, collecting in one volume the long-term trends in a broad array of the most significant indicators of human and environmental well-being, and their dependence on economic development and technological change.

Noting that the environmental record is more complex, the author shows how innovation, increased affluence and key institutions have combined to address environmental degradation. The early stages of development can indeed cause environmental problems, Goklany acknowledges, but additional development creates greater wealth allowing societies to create and afford cleaner technologies.

He maintains that restricting globalization would therefore hamper further progress in improving human and environmental well-being, and in surmounting future environmental or natural resource limits to growth.